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Software Functionality Revealed in Detail
We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.
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 insurance company business process overview

Software Functionality Revealed in Detail

We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.

Get free sample report
Compare Software Solutions

Visit the TEC store to compare leading software by functionality, so that you can make accurate and informed software purchasing decisions.

Compare Now

CRM for Financial and Insurance Markets

Customer relationship management (CRM) focuses on the retention of customers by collecting data from all customer interactions with a company from all access points (by phone, mail, or Web, or in the field). The company can then use this data for specific business purposes by taking a customer-centric rather than a product-centric approach. CRM applications are front-end tools designed to facilitate the capture, consolidation, analysis, and enterprise-wide dissemination of data from existing and potential customers. This process occurs throughout the marketing, sales, and service stages, with the objective of better understanding one’s customers and anticipating their interest in an enterprise’s products or services.  

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Documents related to » insurance company business process overview

Business Intelligence


The ability to extract and present information meaningfully is vital for business management. Indeed, business intelligence tools enable companies to make better decisions, by providing the right information to the right people at the right time. Moreover, employees increasingly suffer from information overload, and require solutions that make informed decisions a more natural part of the everyday work experience.

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Reporting Value of IT Services with Balanced Scorecards


A balanced scorecard is a measurement system for management that provides real insight into the status of a business or some part of it. Developed by Kaplan and Norton in the early 1990s, balanced scorecards provide a control system that helps ensure the right balance between different, and often times conflicting, perspectives. For example, an insurance company may increase profitability by offering incentives to claims assessors for taking a tough stance on payout, but will soon find dissatisfaction among its clients that may lead to lost business. Scorecards help ensure this balance and are an improvement over more traditional single dimension approaches that tend to be based purely on expense management and business growth.

insurance company business process overview  perspectives. For example, an insurance company may increase profitability by offering incentives to Claims Assessors for taking a tough stance on payout, but will soon find dissatisfaction among its clients that may lead to lost business. Scorecards help ensure this balance and are a significant breakthrough over more traditional single dimension approaches that tend to be based purely on expense management and business growth. The perspectives of the balanced scorecard that need harmonizing are shown Read More

New-world Value: The Strategic Impact of Business Application Suites in Today’s Corporate Environment


The concepts of return on investment (ROI) and total cost of ownership (TCO) have been used for decades in enterprise evaluations of IT investments, including enterprise resource planning (ERP) systems. However, with the emergence of important new technological advances, executives are now expanding these traditional formulas to account for new opportunities. Learn more about their new methods for measuring ERP value.

insurance company business process overview  San Diego, Calif.-based full-service insurance provider. Although important, none of those traditional measurements was able to capture the value of the opportunity ICW''s executives knew they would reap from adopting an integrated business application suite that enabled the company to run its multiple lines of business on a single platform. As COO David Hoppen noted in a recent article, it was important that the system support ICW''s business transformation strategy as well as its SOA technology strategy. Read More

CRM Success for Fast Growing Companies: What Every Small and Midsized Business Needs to Know


When creating a seamless value chain, it is essential to focus on the customer. However, information, data, and processes are key when planning the complex merger of processes, technologies, and culture. Additionally, a successful value chain recognizes that partners, vendors, suppliers, and employees play a vital role to ensure that customer values are both recognized and realized.

insurance company business process overview  35 percent; and in insurance brokerage a mind-boggling 50 percent. So retention seemed and seems to be the thing. But those customers you are retaining have to have been acquired somewhere and, as the economy continues to recover and grow, acquisition is not as ugly a word as it used to be. But how you acquire (or retain) your customers no longer just depends on the provision of a good product or a good service, but in fact, how much the customer bonds to the experience that they have with you and your Read More

VisionWaves: The Case for a Global Business Cockpit


Modern organizations know that they need more than visualization. Modern visualization should enable users to collect accurate, coherent, related and relevant data all within an effective visual frame. VisionWaves is a software provider that has developed tools of this sort aiming to help users visualize and understand what is happening and how it relates to important business areas, thereby

insurance company business process overview  well as banking and insurance, VisionWaves’ approach seems to be an efficient way for achieving efficient consolidation of information and practices (a.k.a. governance) from a management perspective. Modern organizations understand the importance of achieving efficiency at all levels. One way to encourage efficiency is to streamline communication, monitor processes, and improve data analysis. Closing the gap between data and process execution is key to achieving efficiency. VisionWaves’ proposal is Read More

W4 BUSINESS FIRST 8.7 for Business Process Management Certification Report


W4 BUSINESS FIRST 8.7 is now TEC Certified for online evaluation of business process management (BPM) solutions in the Enterprise Resource Planning (ERP) Evaluation Center. The certification seal is a valuable indicator for organizations relying on the integrity of TEC research for assistance with their software selection projects. Download this report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary.

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Unit4 Business World


Unit4 Business World (formerly UNIT4 Agresso), a role-based, Web services, and service-oriented architecture (SOA) solution, includes financial management, procurement management, human resources (HR) and payroll, project costing and billing, reporting and analytics, and business process automation solutions. The solution provides tight coupling of data management (information warehouse), process modeling (business processes), and information delivery (reporting and analytics), which means that changes made to an organization’s data or business processes are reflected throughout the solution.

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Driving SMB Efficiency with Business Intelligence


In the coming year, many companies will shift focus to business growth. However, continued economic volatility means that they will also need to keep costs in check to maintain healthy margins. Many small to medium businesses (SMBs) are investing in business intelligence (BI) solutions to assist with this effort. Find out what tools are necessary to provide BI and how a suite of BI tools can help SMBs improve efficiency.

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Why Business Intelligence Makes Sense for Midsize Companies


Business intelligence—or decision support—allows you to better understand, analyze, and predict what’s occurring within your company. BI turns data from financial, manufacturing, and sales systems into useful and meaningful information and then distributes it to people who need it. Midsize organizations have limited resources, so a BI solution should deliver low cost of ownership through off-the-shelf integration.

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The Business Value of Enterprise Business Intelligence


While BI continues to be closely aligned with sales analysis and reporting, more companies are evolving in their use of it to not only understand, predict and influence the behavior of their customers, but to plan, evaluate and monitor their supply chains. The ultimate goal: to drive performance improvements across their businesses. This paper focuses on the influence of Enterprise BI on manufacturing and distribution organizations.

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Business Process Analysis versus Business Process Management


Business process analysis (BPA) vendors are trying to enter the business process management (BPM) market by marketing themselves as BPM solutions. This article discusses the differences between BPA and BPM vendors, and examines the benefits of each.

insurance company business process overview  Process Analysis versus Business Process Management Talking to end users reveals that there is confusion in the market regarding business process analysis (BPA) and business process management (BPM) suites. Vendors use the term BPM in a very broad way, but what are really the differences between BPA and BPM, and where does BPM come from? BPM in the Early Stages In the 1980s, organizations used business process redesign (BPR) to improve productivity, quality of service, and cost effectiveness by Read More

Explore Your Business at the Speed of Thought


For effective decision making, information workers need quick answers to off-the-cuff questions, better understanding of the business, and fast access to relevant information. But IT departments can’t react quickly enough to meet the dynamic needs of the organization while keeping costs within budget. Learn about business intelligence (BI) solutions that can help you extend the reach of BI to all information workers.

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Business Intelligence that Works: Getting True Value out of Your Business Intelligence Investment


With business intelligence (BI), decision-makers can feel the organization’s pulse, evaluate the performance of key business functions, and take action based on their analysis. However, many organizations invest time, money, and resources in BI processes, only to waste their newfound capabilities. Why? And, more importantly, how do you ensure that your BI solution won’t be one of them?

insurance company business process overview   Read More

Business Intelligence in SAP Environments


As a consequence of the acquisition of Business Objects, SAP has shifted its SAP business warehouse (BW) strategy to a more open data warehousing approach and is now focusing on the former Business Objects portfolio. This guide is designed to help existing SAP BW customers to plan to move to the new business intelligence (BI) environment, and outlines most important architecture options for a data warehouse strategy.

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Mobile Business Intelligence (BI)-The Importance of On-the-Move Business Clarity and Agility


Today’s employees expect to have access to business data in a single mobile device with intuitive tools to quickly perform tasks. If enterprises wish to provide BI to every end user, they need a BI solution that is flexible, scalable, and practical enough to function on all smartphones and tablet computing devices with all the features and functionality needed to manage the business at strategic, operational, and tactical levels.

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